SWETGEMS: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
SWETGEMS
Largest movements
- Receivables within one year -€65,891
down €65,891 (-20.8%), from €317,369 to €251,478
of which Trade receivables: -€68,973
- Cash -€6,438
down €6,438 (-50.5%), from €12,740 to €6,303
mainly Trade debts (-€200,573) and Current portion of long-term debt (-€20,732)
- Tangible fixed assets -€5,770
down €5,770 (-20.6%), from €28,015 to €22,245
of which Land and buildings: -€4,691
- Trade debts -€200,573
down €200,573 (-96.4%), from €208,012 to €7,440
- Accrued charges and deferred income +€151,064
up €151,064 (+5,133%), from €2,943 to €154,007
- Current portion of long-term debt -€20,732
no longer reported in 2025 (was €20,732)
- Tax, wage and social debts -€16,317
down €16,317 (-67.3%), from €24,234 to €7,918
- Profit (loss) carried forward +€7,931
up €7,931 (+1.4%), from -€579,581 to -€571,650
- Financial charges -€381,006
down €381,006 (-99.6%), from €382,518 to €1,512
- Financial income -€139,728
down €139,728 (-86.9%), from €160,732 to €21,004
- Gross operating margin -€23,821
down €23,821, from €21,401 to -€2,420
- Taxes -€3,101
down €3,101 (-51.0%), from €6,083 to €2,982
- Other operating charges -€772
down €772 (-66.5%), from €1,161 to €389
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €359,652 | €281,026 | -€78,627 | -21.9% |
| Fixed assets | 21/28 | €29,288 | €23,245 | -€6,043 | -20.6% |
| Tangible fixed assets | 22/27 | €28,015 | €22,245 | -€5,770 | -20.6% |
| Land and buildings | 22 | €23,085 | €18,394 | -€4,691 | -20.3% |
| Plant, machinery and equipment | 23 | €4,930 | €3,851 | -€1,079 | -21.9% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Financial fixed assets | 28 | €1,273 | €1,000 | -€273 | -21.4% |
| Current assets | 29/58 | €330,365 | €257,781 | -€72,584 | -22.0% |
| Amounts receivable within one year | 40/41 | €317,369 | €251,478 | -€65,891 | -20.8% |
| Trade receivables | 40 | €316,625 | €247,651 | -€68,973 | -21.8% |
| Other amounts receivable | 41 | €744 | €3,827 | +€3,083 | +414% |
| Cash at bank and in hand | 54/58 | €12,740 | €6,303 | -€6,438 | -50.5% |
| Deferred charges and accrued income | 490/1 | €256 | - | -€256 | |
| Total equity and liabilities | 10/49 | €359,652 | €281,026 | -€78,627 | -21.9% |
| Equity | 10/15 | €103,731 | €111,662 | +€7,931 | +7.6% |
| Contributions | 10/11 | €518,600 | €518,600 | = | 0.0% |
| Reserves | 13 | €164,712 | €164,712 | = | 0.0% |
| Distributable reserves | 133 | €164,712 | €164,712 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€579,581 | -€571,650 | +€7,931 | +1.4% |
| Amounts payable | 17/49 | €255,922 | €169,364 | -€86,558 | -33.8% |
| Amounts payable within one year | 42/48 | €252,979 | €15,357 | -€237,621 | -93.9% |
| Current portion of amounts payable after more than one year | 42 | €20,732 | - | -€20,732 | |
| Trade debts | 44 | €208,012 | €7,440 | -€200,573 | -96.4% |
| Suppliers | 440/4 | €208,012 | €7,440 | -€200,573 | -96.4% |
| Taxes, remuneration and social security | 45 | €24,234 | €7,918 | -€16,317 | -67.3% |
| Taxes | 450/3 | €24,234 | €7,918 | -€16,317 | -67.3% |
| Accrued charges and deferred income | 492/3 | €2,943 | €154,007 | +€151,064 | +5,133% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,510 | €5,770 | -€740 | -11.4% |
| Other operating charges | 640/8 | €1,161 | €389 | -€772 | -66.5% |
| Gross operating margin | 9900 | €21,401 | -€2,420 | -€23,821 | |
| Operating profit (loss) | 9901 | €13,731 | -€8,578 | -€22,309 | |
| Financial income | 75/76B | €160,732 | €21,004 | -€139,728 | -86.9% |
| Recurring financial income | 75 | €160,732 | €21,004 | -€139,728 | -86.9% |
| Financial charges | 65/66B | €382,518 | €1,512 | -€381,006 | -99.6% |
| Recurring financial charges | 65 | €382,518 | €1,512 | -€381,006 | -99.6% |
| Profit (loss) for the period before taxes | 9903 | -€208,056 | €10,913 | +€218,969 | |
| Income taxes | 67/77 | €6,083 | €2,982 | -€3,101 | -51.0% |
| Profit (loss) for the period | 9904 | -€214,138 | €7,931 | +€222,070 | |
| Profit (loss) for the period to be appropriated | 9905 | -€214,138 | €7,931 | +€222,070 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.